BTZ Stock Summary and Trading Ideas (Blackrock Credit Allocation Trust | NYSE:BTZ)

BlackRock Credit Allocation Income Trust’s (BTZ) (the “Trust”) investment objective is to provide current income, current gains and capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in credit-related securities, including, but not limited to, investment grade corporate bonds, high yield bonds (commonly referred to as “junk” bonds), bank loans, preferred securities or convertible bonds or derivatives with economic characteristics similar to these credit-related securities. The Trust may invest directly in such securities or synthetically through the use of derivatives

Blackrock Credit Allocation Trust trades on the NYSE stock market under the symbol BTZ.

As of April 16, 2024, BTZ stock price declined to $9.99 with 283,865 million shares trading.

BTZ has a beta of 0.70, meaning it tends to be less sensitive to market movements. BTZ has a correlation of 0.38 to the broad based SPY ETF.

BTZ has a market cap of $932.31 million. This is considered a Small Cap stock.

In the last 3 years, BTZ stock traded as high as $15.95 and as low as $9.10.

BTZ has underperformed the market in the last year with a price return of +5.6% while the SPY ETF gained +24.1%. BTZ has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -4.2% and -4.9%, respectively, while the SPY returned +6.3% and -3.3%, respectively.

BTZ support price is $9.95 and resistance is $10.11 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BTZ stock will trade within this expected range on the day.